Is Royal Oak, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Royal Oak was a Buyer's Market.
Key Takeaway
Royal Oak is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Royal Oak, MD
How much do homes in Royal Oak, MD cost?
Median Sold Price
$995,000
$437/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Royal Oak have sold for 121.6% more than they did a month ago.
Summary: The median home sold price in Royal Oak was $995,000 in May 2024, up 121.6% from last month, and the median price per square foot was $437.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $297K | N/A |
| 3 Bedrooms | $449K | $655.5K | +46.0% |
| 4 Bedrooms | - | $1.8M | N/A |
| 5+ Bedrooms | - | $2.3M | N/A |
Summary: Royal Oak housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 46%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Royal Oak, MD
How many homes are available in Royal Oak, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 19 | +35.7% |
Summary: The Royal Oak real estate market had 19 homes for sale in May 2024, a 35.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Royal Oak housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Royal Oak, expect to pay close to the asking price. 80% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Royal Oak in May 2024, up by 400.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 80% were sold at asking, and 0% were sold over asking.
Days on Market for Royal Oak, MD
How long does it take to sell a home in Royal Oak, MD?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 143 Days | 35 Days | -75.0% |
Summary: Homes in Royal Oak had an average of 35 days on market in May 2024, down by 75% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Royal Oak are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 5 homes were sold in Royal Oak; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
